Figure YLDS (Figure Transferable Certificates)
Provenance: can claw back, gate who may hold, mint, change the code (freeze unverified).
This file replaced an earlier version on 2026-09-29. The file listed YLDS on Provenance without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file. Earlier versions.
Subscribers see which of their clients hold this program and whether each household qualifies under these terms, and Ketju emails them when the file changes. $299 per firm per month, first 30 days free.
The verdict is on the memo: Figure YLDS (Figure Transferable Certificates) Not approved
Eligibility
Each answer quotes the issuer’s own words from the document named under it. Ketju reads each document again and records whether the words are still there. Where the documents say nothing, the row states that.
- What the holder owns
An unsecured debt claim on Figure Certificate Company, backed only by its assets.
“Figure Certificates are interest-bearing debt securities. When you buy a Certificate, you are buying an obligation of FCC, which are unsecured and solely backed by its assets”
SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · Figure Certificate Company and the Figure Certificates, Figure Certificates (p. 10) · words found 2026-09-23
- Who may hold it
Anyone who passes KYC by Figure Payments and whose wallet FCC clears; the prospectus sets no accreditation test.
“Each potential investor must pass AML/KYC review by the AML/KYC Service Provider before being approved by FCC to open an FCC account and before the potential investor being approved to receive any Figure Certificates.”
SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · Anti-Money Laundering/Know Your Customer (p. 22) · words found 2026-09-23
- First purchase minimum
No minimum beyond one certificate, which is $0.01.
“There is no minimum initial purchase amount for the Figure Transferable Certificates, and there is no minimum on the amount a Certificate holder may hold.”
SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · The Figure Transferable Certificate (p. 10) · words found 2026-09-23
- Account types
Individuals and entities: the account takes a Social Security Number, an ITIN, or an EIN.
“When you open an FCC account, you must provide your correct Taxpayer Identification Number (TIN), which is your Social Security Number, Individual Taxpayer Identification Number, or Employer Identification Number.”
SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · Purchasing Certificates (p. 24) · words found 2026-09-23
- Who it may be transferred to
Peer to peer at any hour and at face, but only between wallets that have passed KYC and that FCC has cleared.
“Only those wallets that are established on an approved blockchain and that successfully complete the AML/KYC process through the AML/KYC Service Provider and are approved by FCC are approved to transfer Figure Transferable Certificates to other wallets”
SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · Peer-to-Peer and ATS Transactions (p. 25) · words found 2026-09-23
- How a holder redeems
Holders surrender to FCC at any time; FCC processes a surrender within 24 hours, and cash takes up to 5 days by wire or ACH.
“You may request a withdrawal by surrendering your Certificate at any time. Surrenders of Certificates will be processed within 24 hours, but surrenders may take longer depending on congestion on the relevant approved blockchain or other technological reasons.”
SEC EDGAR: FCC prospectus supplement on purchase and surrender (August 6, 2026) · Withdrawal (Surrender), as replaced by the August 6, 2026 supplement · words found 2026-09-23
- Who keeps the official record
The transfer agent’s records, kept partly on chain and partly off, are the official record and override the chain.
“The Transfer Agent’s records constitute the official Certificate holder records of FCC and govern the record ownership of Figure Certificates in all circumstances.”
SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · Information About Correcting Erroneous Transactions on a Blockchain Network (p. 15) · words found 2026-09-23
- What the issuer says it can freeze or take back
FCC and the transfer agent can block wallets and correct or reverse transfers on chain.
“FCC is able to issue new Certificates, and FCC and the Transfer Agent are able to block blockchain wallets if a transaction is made in error or if a private key has been lost or stolen, or if Certificates are transferred erroneously or impermissibly.”
SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · Information About Approved Wallets (p. 16) · words found 2026-09-23
| Fact | Answer |
|---|---|
| Who onboards the holder | issuer |
| Voting rights | None |
| Distributions | new tokens |
| SIPC coverage of the wallet | No |
The transfer agent’s SEC record
A transfer agent registers with the SEC on Form TA-1 and reports each year on Form TA-2: how many securityholder accounts it keeps and for how many issues it keeps the master securityholder file, the list that says who owns each share.
| Agent | SEC file | TA-2 period | Accounts | Issues with master file | Work it hires out |
|---|---|---|---|---|---|
| Figure Equity Solutions, Inc. | 084-06830 | 2025-12-31 | 1,856 | 1 | None |
Who controls it
Ketju read these powers from the deployed contracts and their verified source code: the token and every contract it checks on a transfer. A power listed here is something the issuer can do; it does not mean the issuer has used it.
| Chain | Freeze a holder | Pause | Claw back | Gate holders | Change the code | Keys held by |
|---|---|---|---|---|---|---|
| Stellar | Yes | No | Yes | Yes | Yes | A single key can freeze a holder and claw back tokens. |
| Provenance | Unverified | No | Yes | Yes | Yes | pb10r29n9w7ja6qt7l3dzls32x7alvmc9j9l9q8x79xwusy0fjf372s348dzu, pb18r6ncean59nm9d2pql7ely74jxn7g7s4tqrldw, pb17eswnfkr0nl8p7jt52l2gpxpap7205zavkls07, pb1qt67v5kr6hdvwlwlenxvnjtzsm56j4msax696p, pb1lez9xkd8mw27xzzlyu0cjyqxxyapvcqq3fj3ld, pb1za0pdapyxrgymtv78kl0a6spe686t9ezcyudev |
Who holds the keys
Ketju read every current holder of each power from the chain on 2026-09-29. A single key is one private key, and whoever holds it acts alone. A multisig needs the stated number of signers. A timelock delays every action, so holders can see it before it takes effect.
| Chain | Key | What it can do | Held by | Address |
|---|---|---|---|---|
| Stellar | Issuer account | mint new tokens, freeze a holder, claw back tokens, decide who may hold | a single key | GAC7MO…AVH3 |
Ketju could not read the role holders on Provenance from the public event indexes on its last check. The table shows only what Ketju confirmed.
Stellar: 4 contract reads, 0 functions in verified source, 2026-09-23
- auth_required=true
- auth_revocable=true
- auth_immutable=false
- auth_clawback_enabled=true
Provenance: 8 contract reads, 0 functions in verified source, 2026-09-28
- marker_type=MARKER_TYPE_RESTRICTED
- status=MARKER_STATUS_ACTIVE
- required_attributes=approved.ylds.pb
- allow_forced_transfer=true
- allow_governance_control=true
- supply_fixed=false
- admin=pb10r29n9w7ja6qt7l3dzls32x7alvmc9j9l9q8x79xwusy0fjf372s348dzu
- force_transfer=pb10r29n9w7ja6qt7l3dzls32x7alvmc9j9l9q8x79xwusy0fjf372s348dzu,pb18r6ncean59nm9d2pql7ely74jxn7g7s4tqrldw,pb17eswnfkr0nl8p7jt52l2gpxpap7205zavkls07,pb1qt67v5kr6hdvwlwlenxvnjtzsm56j4msax696p,pb1lez9xkd8mw27xzzlyu0cjyqxxyapvcqq3fj3ld,pb1za0pdapyxrgymtv78kl0a6spe686t9ezcyudev
Where it trades
| Venue | Kind |
|---|---|
| ylds.com portal and the Figure Markets app (issue and surrender with FCC) | issuer primary |
Redemption
| Route | Settlement | Settles in |
|---|---|---|
| Redeem with the issuer in its window | Holders surrender to FCC at any time at $0.01 face per certificate plus accrued interest, with no surrender charge and no minimum; FCC processes a surrender within 24 hours. Cash goes by wire or ACH (up to 5 days; the holder pays the ACH fee), to a Figure Payments stored-value account, or as an accepted stablecoin through Figure Payments (up to 10 days). On Stellar the holder sends YLDS to a redemption address unique to its account. | USD, USDC |
- The uylds.fcc marker’s access grants, required attribute, or forced-transfer setting change on Provenance
- The Stellar issuer adds signers, changes thresholds, or locks its authorization flags
- FCC files a new prospectus, post-effective amendment, or supplement that changes who may hold, the minimum, the surrender terms, or the approved chains
- A chain other than Provenance or Stellar goes live for YLDS; Ketju then reads its contract
- Figure Equity Solutions files a TA-W or FCC names a different transfer agent
- FCC publishes a US state list or bars a class of US or non-US holders
- Figure corrects its statement that one YLDS is one certificate at $0.01, or on-chain supply stops matching the reserve at $1 per displayed unit
- YLDS lists for trading on a registered ATS
Daily checks
Every day Ketju reads each control function in the table above and the contracts the token checks on a transfer. Ketju compares the token’s on-chain supply with yesterday’s, and its market quote with its one-dollar value. Ketju also reads every document quoted above and reviews the file again if a quoted passage disappears from its document. Ketju reads EDGAR for the transfer agent’s registration and reviews the file again when a new filing appears. Ketju counts a new, removed, or changed key as a change only when the chain’s own log shows the grant, revocation, or signer change since yesterday. If the log does not show it, Ketju updates the key list in this file and does nothing more. A change opens a review before any client action. Subscribers get an email that names each of their clients who hold the token, with the household result.
File history
Ketju has revised this file once since filing it. Ketju keeps each earlier version as published, with the reason for the change.
| Date | Change |
|---|---|
| 2026-09-23 | Filed. |
| 2026-09-29 | Revised. The file listed YLDS on Provenance without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file. |
Sources
- SEC EDGAR: Figure Certificate Company prospectus, Rule 497 (April 24, 2026) · primary · accessed 2026-09-23
Supports: unsecured debt of FCC, $0.01 face, no minimum, KYC before holding or receiving, transfers only between cleared wallets, transfer agent record governs, block wallets, cancel and reissue, TIN types, chain suitability framework requires clawback - SEC EDGAR: FCC prospectus supplement on approved blockchains (June 30, 2026) · primary · accessed 2026-09-23
Supports: Provenance primary; Solana, Stellar, Avalanche, Sui, Tempo on request - SEC EDGAR: FCC prospectus supplement on purchase and surrender (August 6, 2026) · primary · accessed 2026-09-23
Supports: surrender processed within 24 hours, wire and ACH up to 5 days, stablecoin surrender up to 10 days - SEC EDGAR: FCC Form 10-Q for the quarter ended June 30, 2026 · primary · accessed 2026-09-23
Supports: YLDS is the Transferable Certificate, $557.5M certificate reserve, affiliates held $477.5M - SEC EDGAR: Figure Equity Solutions, Inc. Form TA-1/A (September 3, 2025) · primary · accessed 2026-09-23
Supports: transfer agent file 084-06830 - YLDS (ylds.com): product page and FAQ · primary · accessed 2026-09-23
Supports: minimum is a single certificate, held globally by eligible customers, eligibility may vary by jurisdiction, 1 YLDS = 1 Certificate = $0.01 NAV (site wording) - YLDS (ylds.com): Developers and Ecosystems · primary · accessed 2026-09-23
Supports: Provenance and Stellar live - FCC stellar.toml at ylds.com · primary · accessed 2026-09-23
Supports: Stellar issuer address, redemption address per account - Provenance REST: uylds.fcc marker detail · primary · accessed 2026-09-23
Supports: restricted marker, forced transfer allowed, required attribute approved.ylds.pb, group-policy admin and single-key minters - Stellar Horizon: YLDS asset records · primary · accessed 2026-09-23
Supports: issuer flags, Stellar supply, copycat issuers